Nice Drew. Even holding a short position on ENRON was toxic over just a few days or hours.
To those who want to get rich quick, my advise to you all is to do everything Mr Drew says and hold your breath.
What BS. Holding any short position is always very dangerous. Short term news can kill you. The long term trend for WPRT is chapter 11. Speculate all you want on WPRT shares hoping for short term gain and I hope you do well but, the long term certainty is a few years more of negative cash flow then the end.
It never left. It was in the toilet and still is. What gives is that the company continues to lose money after 15 years and keeps borrowing so it can lose more.
Only Carter Worth on CNBC wastes his time with those charts.
What I want to know is when will WPRT post real GAAP earning. After 15 years of negative cash flow and spending 100 million dollars of investors capital to build engines they can't sell even at a loss what good are tea cups, handles, head and shoulder bottoms? After 15 years the book value is less then the capital which was put up. 15 years with ZERO return. That won't fill any cup.
Where's the beaf, or better stated, where's the earnings?
Unlike Drew I will admit that I did not do as much research as I need to. In addition investors must have trust in management. It was after about 8 quarters went by that it became clear management was lying or incompetent. Turns out it's a lot of both. On the surface HPDI looks like a reasonable idea. I allows engines which are already in production to run on nat gas with out replacing the cylinder head. But no one is going to take on that modification with diesel at this price and this price will be here for a long time. Cummins has the financial and manufacturing capacity to move directly to spark ignition. Don't fall for management lies about HPDI generating equal power. HPDI IS ONLY THERE TO CAUSE IGNITION WHEN NO SPART IS THERE. It has NOTHING to do with power/torque.
I sold at a big loss and I still post here so others hear about the kind of management they are about to invest in. It's important for people to know the fair market value of public companies and in the case of WPRT that value is cash - debt which is only a few cents and will be ZERO before long.
I just looked at a Westport engine. Where are the cup and handle parts you are talking about. Are the connected to the HPDI injectors?
That is total BS, HPDI exists for one reason and one reason only. Diesel engines don't have spark plug sockets in the cylinder head. HPDI will produce no more power the just NG. Why are people saying HPDI will produce more power? BECAUSE WPRT MANAGEMENT SAYS SO. How may lies are they going to put out.
Nat gas won't work without spark plugs. The duel fuel injector is only to get enough diesel into the cylinder to get ti to compression ignite. How can you people keep falling for the #$%$ this company's management keeps putting out. HPDI is a bad design. New engines need spark plugs and an ignition system to run nat gas and HPDI needs to be put in the trash where it belongs. Power comes from the injection pressure of the fuel matched with turbo pressure which provides the O2. You think the power is coming from the 5 percent diesel which is being injected? You are buying into every BS line put out by WPRT management instead of understanding the science of compression engines. Let me guess you think they also have all the money they need to reach profitability and will not borrow any more money or float any more stock. This last set of loans is the last, we promise. Better by more call options because Westport management has always been right on the money. Oh and HPDI 3.0 will have 10 times the power of HPDI 2. Get real.
Drew, you need to work for WPRT since all you can do is repeat the same trash the management comes out with.
Drew, you just have no idea what is going on.
Try to come up with just one positive point with regard what WPRTs management or BOD has done since it lied about having the funds to reach profits or the lie about not floating more stock.
WPRT is going down in flames and I post to help others see how this management group will lie and take their investment. I keep posting with the hope I can prevent just one person from losing money even if its you.
There is no bashing going on here from anyone. Facts are being posted and they are not in managements favor.
I am not short. Sold my last holdings back at 3:
What can WPRT and FSYS do to weather the current storm.
1) remove the BOD replace them with those who understand business who will them remove Demers.
2) shutdown development of HPDI. It has no market.
3) No more borrowing
4) No more new stock
5) No more talk of EBIDTA. Report losses as what they are, LOSSES! Stop sugar coating losses the market won't buy into that nonsense.
6) No new start of spending on any new R&D.
7) Cut remaining R&D by 60 percent and focus on what is in the pipe now.
8) 30 Percent layoff
9) Management must take a 40 percent pay cut. I would cut Demers by 90 percent but, as stated he is already gone.
10) Concentrate on the spark engines. If they don't fly might as well close shop.
11) Cut negative cash flow by 50 percent in the first year or the BOD is removed.
12) Sell off --- outsource production of any tank systems cold or ambient. A tank is a tank is a tank and there is no money in making tanks.
There plenty more things which can be done but not by this management group. They won't do anything as long as there is any cash left which they can take out for their own enrichment.
Don't waste your time looking into HPDI. It's dead technology. New NG engines will be using spark not dual fuel. Any money Westport spends on HPDI is more money down the drain. Every second of the day WPRT burns through what little cash it has left.
Don't go under investing money in WPRT. A 10 year treasury note is a better deal, at lest it pays 2 percent and you get you investment back. Good luck getting any divided on WPRT or your investment back.
Laugh now but Drew could be the richest dude in the world soon. I bet he is loading up the truck with those Feb 1 dollar call options for 50 cents each. When WPRT goes back up to 40, where he was still saying buy buy buy, he is going to rake in some major coin.
Or, watch his 250,000 dollars of options expire worthless. I bet we could get some good odds on Vegas on Drew getting rich.
Come on Drew tell us how you are hanging it all out on low cost call options. I know you believe in the CEO an BOD. They have all the cash they need to reach profitability, not need to float more stock, not going to borrow anything. The are ready to rock.
I don't really know who will have more, Dr. Morris or Mr. Demers.
Wrong again Mr. Drew.
No reason for WPRT moves day to day:None????
Of course their is a reason. The market has lost all confidence int Demers and his BOD. Now 1.32 and looking at 1.25 next. In this energy market WPRT has a product with no market. I own diesel trucks and under these condition I wouldn't even consider moving to Nat Gas. This company is bleeding cash and every time it get critical Demers' answer is to borrow more, does he go to work to get negative cash flow under control, no his answer is always to borrow more, float more shares. He goes out of his way to devalue shares. WPRT is very close to not being able to borrow at all. It will be insolvent in 18 - 24 months if the BOD does not remove this CEO. Even a new CEO with a proven track record would have a difficult time turning this company around. There is nothing left to work with. It's over.
To all who are looking at investing in WPRT, run away as fast as you can. There are many opportunities with the latest pull back in the markets. AT&T pays almost a 6 percent dividend with little risk, WPRT won't return 6 percent to investors in the next 10 years. How can it return anything when it's trying to find the fastest path to insolvency?
So, Drew, this has been a speculative name for 15 years. When will it no long be a speculative name. 100 years from now. How long is it appropriate a company to stay in start up money spending other peoples money? 20 years, 30 years. Are you actually going to say WPRT has been successful in the past 15 years?
Well then you only have 1 thing to do. Mortgage the house, get everyone you know to loan you money and load up the cart with long term options. You are going to be one wealthy person. You could wait a bit more and by those call options when the price goes down to 10 cents. You will never be able to spend all the money you are going to make.
So like dirty Harry once said, do you feel lucky?
You are off the mark entirely Drew. Shorts have nothing to do with the pending death of WPRT. The company does not have a product the market wants now or for the next 5 years. Your comments are geared toward nothing but short term speculation in the options market and that has nothing to do with WPRT having no market for their products. If you can make money as a speculator fine but that has nothing do with the company or its products which no one wants.
How can you ask such questions? Have you followed what management of this company has done and said for the past 5 years. Now add in low oil/diesel prices for possible 5 - 10 years and thinking this company can make a profit is suicide.
Yes they are, only they won't be coming from Westport because of it's incompetent management and BOD. By the time WPRT is gone Cummins could do this work out of petty cash. Ask why, if this stuff is so good and at 1.50 a share why would Cummins not make a move. It's because the know it's not worth buying.
They are out of time and the market knows it. That's why it's only worth book value. Oil demand and current supply go out into the future past the point of WPRTs destruction. All they will be doing is burning more cash on a project which has no market for 5 more years and they don't have 5 years left. This could be very costly for Cartesian Capital Group. There is a high probability the WPRT with default and they will get little in return.